Talk:Auto Industry Financing and Restructuring Act of 2008

Moving unreferenced paragraph by User:Robert Michael Foster MA here:

The big 3 car corporations developed over 70 mpg diesel hybrids, in cooperation with the Clinton administration. President Bush and the big three lost their way, in pursuing the more costly and less efficient hydrogen car. This was encouraged by the multinational oil corporations, to kill the electric car concept and beat their electric power competition. Google "hydrogen hoax". GM and Ford were competitive, in foreign markets, because those governments, intelligently incentivized efficient automobiles, by fuel and displacement taxes, instead of CAFE requirements. These factors and their lack of any strategy to deal with these factors, left them unprepared, for the financial meltdown.